As noted in our prior updates, on June 2, 2024, Ohio Gov. Mike DeWine signed into law H.B. 1, which prohibits foreign nationals from making or being solicited for political contributions in connection with Ohio state and...more
As noted in our prior update, Ohio Gov. Mike DeWine signed H.B. 1 into law on June 2, 2024. H.B. 1 enacted a ban on foreign nationals making or being solicited for political contributions, defining foreign nationals to...more
On August 6, 2024, Vice President Kamala Harris accepted the Democratic nomination for president and announced Governor Tim Walz as her running mate. This marked the end of the primary election period for the Harris/Walz...more
8/9/2024
/ Campaign Finance Reform ,
CFTC ,
Financial Industry Regulatory Authority (FINRA) ,
Kamala Harris ,
MSRB ,
Pay-To-Play ,
Political Campaigns ,
Political Candidates ,
Political Contributions ,
Presidential Elections ,
Securities and Exchange Commission (SEC)
Vice President Kamala Harris announced today that she has selected Minnesota Gov. Tim Walz as her vice presidential running mate in her bid for president. Contributions to the Harris/Walz campaign are now subject to the...more
8/7/2024
/ Campaign Finance Reform ,
CFTC ,
Financial Industry Regulatory Authority (FINRA) ,
Kamala Harris ,
MSRB ,
Pay-To-Play ,
Political Campaigns ,
Political Candidates ,
Political Contributions ,
Presidential Elections ,
Securities and Exchange Commission (SEC)
The next quarterly update required under the Illinois pay-to-play law is due August 14, 2024. As described in an earlier mailing, Illinois law requires many companies with aggregate state bids, proposals and contracts...more
On July 21, 2024, President Joseph Biden announced that he was ending his bid for reelection and instead endorsing Vice President Kamala Harris for president. A presumptive nominee withdrawing so close to the party convention...more
7/29/2024
/ Biden Administration ,
Campaign Funds ,
CFTC ,
Financial Industry Regulatory Authority (FINRA) ,
Kamala Harris ,
Legislative Agendas ,
MSRB ,
Pay-To-Play ,
Political Campaigns ,
Presidential Elections ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC)
Historically, multinational companies and those lobbying on their behalf mostly concerned themselves with the U.S. and Canadian legal frameworks for lobbying. But more and more jurisdictions are establishing increasingly...more
Ohio Adopts Sweeping Foreign National Ban, Covering Lawful Permanent Residents -
On June 2, 2024, Ohio Gov. Mike DeWine signed into law H.B. 1, enacting a sweeping foreign national ban on political contributions and...more
6/21/2024
/ Campaign Finance Reform ,
Coronavirus/COVID-19 ,
Foreign Nationals ,
Governor DeWine ,
Legislative Agendas ,
New Legislation ,
North Carolina ,
PACs ,
Political Contributions ,
State and Local Government ,
State Bans ,
State Legislatures
As a result of recent statutory amendments that will go into effect on July 1, 2024, companies registered and filing pay-to-play reports in Maryland will be required to list on their registration certain beneficial owners,...more
On April 15, 2024, the U.S. Securities and Exchange Commission (SEC) censured and imposed a $60,000 civil penalty on Wayzata Investment Partners LLC (Wayzata) for violating SEC Rule 206(4)-5 (the Pay-to-Play Rule). Under the...more
4/29/2024
/ Campaign Contributions ,
Civil Monetary Penalty ,
Compensation ,
Fund Managers ,
Government Entities ,
Investment Adviser ,
Investment Management ,
New Rules ,
PACs ,
Pay-To-Play ,
Political Campaigns ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
State and Local Government
Legislative lobbyists and legislative lobbyist employers in Kentucky are required to file monthly lobbying disclosures for periods covering January through April, and then every four months thereafter covering the rest of the...more
As interest rates have risen, more PACs are triggering federal income tax requirements stemming from interest they receive. Political organizations, including PACs, with more than $100 in taxable interest or investment income...more
On July 1, 2024, registration thresholds under the city of Chicago’s lobbying law take effect. Under the law, individuals will need to register for city lobbying communications if they:
- are compensated or spend $1,250...more
The annual filing for state and local contractors required under New Jersey Chapter 271 (Form BE) is due April 1, 2024. As we have described in previous mailings, this report must be filed by a business entity if it received...more
The following summarizes periodic pay-to-play reporting requirements under laws in Illinois, Maryland, New Jersey, Pennsylvania, Philadelphia and Rhode Island. Certain companies must file reports regarding their business...more
The 2024 presidential nominating conventions are only a few months away and both host cities — Milwaukee, where Republicans will gather in July, and Chicago, which welcomes Democrats in August — are hoping for returns to...more
With the election season in full swing, there is increased interest in political contributions. It is important for financial institutions subject to SEC Rule 206(4)-5 for investment advisers, CFTC Rule 23.451 for swap...more
As predicted in our February 1, 2023, client alert, “ESG in 2022 and Predictions for 2023,” a global economic slowdown and ongoing backlash in the U.S. have slowed the momentum of some aspects of the environmental, social and...more
7/18/2023
/ Activist Investors ,
Biodiversity ,
Competition ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Markets ,
Financial Reporting ,
Financial Services Industry ,
Green Energy ,
Investment ,
Investors ,
Legislative Agendas ,
Popular ,
Regulatory Agenda ,
Remuneration ,
Sustainability ,
UK
Florida Gov. Ron DeSantis filed paperwork on May 24, 2023, to run for president in the 2024 election. In light of his announcement, it is important to keep in mind that contributions made to or solicited on behalf of Gov....more
Nonprofits organized under Section 501(c)(4) of the Internal Revenue Code (IRC) play an ever-growing role in politics and public policy advocacy. These 501(c)(4) organizations may accept unlimited corporate and personal...more
In this client alert, we summarize recent political law developments in California.
FPPC Votes To Issue Commission Opinion on New Pay-to-Play Bill -
At a meeting on November 17, 2022, the California Fair Political...more
Maryland Pay-to-Play Amendments - Maryland Senate Bill 15 has expanded reporting requirements in the state, requiring organizations that spend at least $500 in lobbyist compensation to file a semiannual report disclosing...more
In the latest installment of the Informed Board podcast, Skadden partner Ann Beth Stebbins leads a discussion about political and social issues in the workplace, responding to evolving employee expectations and the increased...more
The annual equity report for all Pennsylvania lobbyists and lobbying firms is due July 30, 2022, as required by Act 70 of 2021. The filing discloses either the total value or percentage of equity held by a lobbyist or...more
The annual filing for state and local contractors required under New Jersey Chapter 271 (Form BE) is due March 30, 2022. As we have described in previous mailings, this report must be filed if a business entity received...more